Smithfield Foods announced Monday it has completed the sales of both its Chinese joint venture Maverick Food Company Limited to COFCO Limited and the sale of substantially all of the assets of its RMH Foods, LLC to a group of investors led by the Rocke family.

Maverick Food Company focuses mainly on hot dogs and other sausages, whole and sliced ham, bacon, Chinese style processed meat, and frozen and convenience food. RMH Foods produces fully cooked beef, pork and chicken entrees to retail customers, as well as the deli and foodservice channels.

"The sale of these assets demonstrates our continuing commitment to shed non-core businesses with a greater focus on efficiencies and return on invested capital," said C. Larry Pope, president and chief executive officer of Smithfield foods. "These divestitures are examples of how we have altered our strategy to deliver better returns to our shareholders," he continued.

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